If you are considering buying a rental property, here is a good one. Located in Villa Monte Vina in Rancho San Diego. This 1 bedroom 1 bath condo is listed for $130,000 and it is currently rented for $1,100 per month. Let's crunch some numbers...
$130,000 @ 4.75% is $678 per month. (of course you would need a downpayment to get a loan so the actual loan amount would be less.
$678 (mortgage and interest)
$200 (HOA fees)
$70 (insurance)
$135 (taxes)
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$1083 per month and it is currently rented for $1,100.
Call me if you are interested in this property or any other.
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